U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 100 points on Wednesday.
Following the market opening Wednesday, The Dow traded up 0.23% to 45,024.57 while the NASDAQ fell 0.49% to 21,211.00. The S&P 500 also fell, dropping, 0.17% to 6,400.28.
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Leading and Lagging Sectors
Consumer staples shares jumped by 0.6% on Wednesday.
In trading on Wednesday, information technology stocks fell by 0.7%.
Top Headline
Target Corporation (NYSE:TGT) shares fell around 9% on Wednesday following the release of second-quarter results.
The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.03. Quarterly sales of $25.21 billion (down 0.9% year over year) outpaced the Street view of $24.93 billion.
Target reaffirmed its fiscal year 2025 adjusted EPS guidance at $7.00–$9.00, compared with the Street estimate of $7.35. Target reiterated its outlook for a low-single-digit decline in fiscal year 2025 sales. In the earnings conference call, Target's outgoing CEO Brian Cornell acknowledged the impact of tariffs on the company's financial outlook, stating that this year's P&L would reflect some short-term pressure due to these costs.
Equities Trading UP
- NovaBay Pharmaceuticals, Inc. (NYSE:NBY) shares shot up 104% to $1.2350 after the company announced it entered into a $6 million securities purchase agreement with a private investor.
- Shares of Shineco, Inc. (NASDAQ:SISI) got a boost, surging 46% to $7.25 after the company unveiled its on-chain cell asset tokenization platform.
- Auddia Inc. (NASDAQ:AUUD) shares were also up, gaining 31% to $2.8710 after the company announced it has made premium AI features free on Faizr and is pivoting to monetize artists with the new Discovr radio platform.
Equities Trading DOWN
- enVVeno Medical Corporation (NASDAQ:NVNO) shares dropped 70% to $1.2699 after the company announced the FDA has not approved its VenoValve PMA submission.
- Shares of Calidi Biotherapeutics, Inc. (NYSE:CLDI) were down 41% to $1.7697. Calidi Biotherapeutics announced the pricing of $6 million underwritten public offering.
- Color Star Technology Co., Ltd (NASDAQ:ADD) was down, falling 35% to $0.0809. Color Star Technology announced corporate name change and 25-for-1 reverse share split.
Commodities
In commodity news, oil traded up 1.3% to $63.15 while gold traded up 0.8% at $3,384.60.
Silver traded up 1% to $37.700 on Wednesday, while copper rose 0.1% to $4.4275.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 rose 0.7%, Germany's DAX 40 fell 0.5% and France's CAC 40 rose 0.1% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 1.51%, Hong Kong's Hang Seng gaining 0.17%, China's Shanghai Composite surging 1.04% and India's BSE Sensex gaining 0.26%.
Economics
The volume of mortgage applications in the U.S. fell by 1.4% from the previous week in the second week of August.
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